The Town of Smithfield will finance the purchase of a new fire truck over the next 12 years.
The Smithfield Fire Department recently accepted delivery of a new 2017 Spartan fire truck at a cost of $490,500.
The Town solicited bids from KS Bank, BB&T, and the Local Government Federal Credit Union to finance 100 percent of the purchase price. KS Bank offered the lowest interest rate of 2.24 percent over a 12 year period. The annual payments on the loan will be $46,807.58. The total interest on the loan is $71,190.98.